Dear John,

The headlines every day are sobering. The support systems that have provided a safety net for so many families are increasingly stressed and pushed beyond their limits. But there is something you can do to help.

The key to recovery and stability is to ensure that underserved and more vulnerable communities have the agency to participate fully and freely in our economic system. At Prosperity Now, we know a primary  way to do this is to improve the ecosystem of support to Black businesses and entrepreneurs, including boosting access to capital.

Entrepreneurs like Silvia.

Silvia’s dream was to open her own salon. When she came to the United States to get better care for her daughter’s medical condition, she began to pursue her dream. Silvia worked two jobs for several years to save money for the tuition and fees of beauty school, and she continued working full-time to make ends meet when she was a student. After graduating, Silvia worked at different salons to learn everything she could and build her clientele. “I was working, working, working; but I never gave up,” she said. Silvia knew that to take out the loan she needed to start her business, she had to build her credit. With the support of a Prosperity Now network member organization, Silvia was able to access business loans. These loans not only provided her with the seed capital she needed, but also helped her build her credit.

Today, along with many entrepreneurs of color, Silvia’s small business could be in jeopardy.  

The pandemic has hit small businesses owned by people of color the hardest. Even in times of economic prosperity, local businesses face institutional barriers, such as disparities in access to capital that challenge their sustainability and growth. This is particularly true for Black entrepreneurs, as prior to the coronavirus crisis, Black households had lost half their wealth in 30 years and, without significant intervention, were projected to have zero wealth by 2053.

Together, we can turn this around. Please make a donation today to help build a more inclusive economy that enables every American to save, start a business, buy a home and save for college and retirement?

By making a gift to Prosperity Now, you can lift up and bolster the ecosystem of local institutions to support entrepreneurs of color. This investment will help us support initiatives that create jobs, increase wealth in communities of color and, ultimately, help close the racial wealth divide. 

With your support, we can act with urgency to get available resources to business owners like Silvia and promote economic growth and development in the hardest hit communities.

Sincerely,

Gary L. Cunningham
President & CEO